Osisko Development's (ODV) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Osisko Development's stock was reaffirmed with a "sell (D-)" rating by Weiss Ratings, even as other ratings from different analysts vary, including a recent upgrade to "strong-buy" by Stifel Canada.
• The company’s stock price fell 5.2% to $3.57 during trading, with a market capitalization of approximately $850.57 million and a P/E ratio of -4.35.
• Institutional investors have shown interest, with several firms increasing their stakes in Osisko Development, leading to 15.16% of the stock currently owned by such investors and hedge funds.

Osisko Development (NYSE:ODV - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

ODV has been the topic of a number of other reports. Stifel Canada upgraded shares of Osisko Development to a "strong-buy" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Osisko Development from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, National Bankshares restated an "outperform" rating on shares of Osisko Development in a report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Osisko Development Stock Down 5.2%

ODV stock traded down $0.20 during midday trading on Wednesday, hitting $3.57. The company's stock had a trading volume of 571,386 shares, compared to its average volume of 645,774. The company has a quick ratio of 0.62, a current ratio of 0.68 and a debt-to-equity ratio of 0.01. Osisko Development has a 52-week low of $1.16 and a 52-week high of $3.81. The firm has a market capitalization of $850.57 million, a P/E ratio of -4.35 and a beta of 0.70. The firm has a 50-day simple moving average of $2.88 and a 200-day simple moving average of $2.26.

Institutional Investors Weigh In On Osisko Development

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinnacle Wealth Management Group Inc. increased its stake in Osisko Development by 5.7% in the third quarter. Pinnacle Wealth Management Group Inc. now owns 85,850 shares of the company's stock valued at $291,000 after purchasing an additional 4,600 shares during the period. SeaBridge Investment Advisors LLC acquired a new position in Osisko Development in the second quarter valued at $26,000. Salem Investment Counselors Inc. acquired a new position in Osisko Development in the second quarter valued at $30,000. XTX Topco Ltd increased its stake in Osisko Development by 210.2% in the second quarter. XTX Topco Ltd now owns 37,955 shares of the company's stock valued at $81,000 after purchasing an additional 25,720 shares during the period. Finally, Pale Fire Capital SE increased its stake in Osisko Development by 129.1% in the first quarter. Pale Fire Capital SE now owns 65,265 shares of the company's stock valued at $97,000 after purchasing an additional 36,774 shares during the period. 15.16% of the stock is currently owned by institutional investors and hedge funds.

Osisko Development Company Profile

Osisko Development Corp. acquires, explores, and develops mineral properties in Canada, Mexico, and the United States. It explores for gold; and precious and base metals. The company's flagship asset is the Cariboo Gold Project covering an area of approximately 155,000 hectares consisting of 415 mineral titles located in British Columbia, Canada.

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